Medpace (NASDAQ:MEDP) Downgraded to Hold Rating by Rothschild Redb

Key Points

• Medpace has been downgraded from a "strong-buy" rating to a "hold" rating by Rothschild Redb, reflecting a shift in analyst sentiment.
• Despite the downgrade, Barclays raised their price target on Medpace from $300 to $450, while Deutsche Bank increased their target from $270 to $430.
• Medpace reported an earnings per share (EPS) of $3.10 for the last quarter, exceeding analyst expectations and demonstrating a year-over-year revenue increase of 14.2%.

Rothschild Redb lowered shares of Medpace (NASDAQ:MEDP - Free Report) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on MEDP. Cowen cut shares of Medpace from a "buy" rating to a "sell" rating in a report on Wednesday, July 23rd. Rothschild & Co Redburn cut shares of Medpace from a "buy" rating to a "neutral" rating and increased their target price for the stock from $342.00 to $474.00 in a report on Wednesday. UBS Group cut shares of Medpace from a "neutral" rating to a "sell" rating and increased their target price for the stock from $300.00 to $305.00 in a report on Tuesday, July 29th. Robert W. Baird increased their target price on shares of Medpace from $313.00 to $490.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Barclays increased their target price on shares of Medpace from $300.00 to $450.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $412.73.

Medpace Trading Up 1.0%

Shares of NASDAQ MEDP traded up $4.64 during mid-day trading on Wednesday, reaching $486.98. The company had a trading volume of 233,792 shares, compared to its average volume of 316,283. The business's 50-day moving average is $412.68 and its 200-day moving average is $344.19. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 3.06 and a beta of 1.44. Medpace has a 52 week low of $250.05 and a 52 week high of $501.30.

Medpace (NASDAQ:MEDP - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The company reported $3.10 EPS for the quarter, topping analysts' consensus estimates of $3.00 by $0.10. Medpace had a net margin of 18.74% and a return on equity of 67.66%. The firm had revenue of $603.31 million for the quarter, compared to analysts' expectations of $537.70 million. During the same period in the prior year, the business posted $2.75 earnings per share. The business's revenue for the quarter was up 14.2% on a year-over-year basis. Medpace has set its FY 2025 guidance at 13.760-14.53 EPS. As a group, equities research analysts forecast that Medpace will post 12.29 earnings per share for the current year.

Insider Buying and Selling at Medpace

In related news, CFO Kevin M. Brady sold 12,000 shares of Medpace stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $454.23, for a total value of $5,450,760.00. Following the completion of the sale, the chief financial officer directly owned 6,000 shares in the company, valued at $2,725,380. This trade represents a 66.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cornelius P. Mccarthy III sold 1,662 shares of Medpace stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $465.04, for a total transaction of $772,896.48. Following the completion of the sale, the director owned 10,197 shares of the company's stock, valued at $4,742,012.88. This trade represents a 14.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,266 shares of company stock valued at $74,111,427. 20.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Medpace

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its stake in shares of Medpace by 55.4% during the second quarter. Osaic Holdings Inc. now owns 6,334 shares of the company's stock worth $1,988,000 after buying an additional 2,258 shares during the period. Centaurus Financial Inc. raised its position in Medpace by 14.7% during the 2nd quarter. Centaurus Financial Inc. now owns 1,852 shares of the company's stock worth $581,000 after buying an additional 237 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in Medpace by 3.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 4,717 shares of the company's stock worth $1,480,000 after buying an additional 147 shares during the last quarter. Cim Investment Management Inc. raised its position in Medpace by 100.7% during the 2nd quarter. Cim Investment Management Inc. now owns 2,202 shares of the company's stock worth $712,000 after buying an additional 1,105 shares during the last quarter. Finally, Cim LLC raised its position in Medpace by 5.9% during the 2nd quarter. Cim LLC now owns 4,265 shares of the company's stock worth $1,339,000 after buying an additional 237 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.